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Conversocial raises $11 million to fuel continued growth and innovation

Harry Rollason
By Harry Rollason on Oct 19, 2015 9:00:00 AM

NEW YORK and LONDON, OCT. 19, 2015 Conversocial, an industry leading provider of social customer service solutions today announced additional funding to help further advance its product innovation and drive new market development. Led by Dawn Capital with existing investors Octopus Ventures and Draper Esprit participating, this latest round takes funding to a total of $22 million for the social media enterprise company.

The demand for social customer service solutions continues to grow. To keep pace with the unprecedented growth in its business, Conversocial has expanded its customer success and marketing teams and is actively hiring enterprise sales people in the US and UK, including a Head of Sales for EMEA. The company continues to expand its executive team to help innovate the product as firms across the globe invest in customer service applications in order to accelerate their customer engagement.

During the past year, Conversocial has increased its office presence and has recorded significant new client wins across North America, UK and Europe. Conversocial now has an impressive roster of more than 240 enterprise clients adding to their travel and hospitality customers with brands such as Hyatt Hotels, and further airline wins with Air New Zealand and Alaska Airlines expanding the list of airline customers who’ve chosen Conversocial as their partner.

“Social media continues to revolutionize the customer relationship. With social media now making up over 10% of inbound service volume for leading organizations, it’s more important than ever to be managing social media with the same diligence and robustness as traditional channels—hence our major investment into key product features like resolution management.” says Joshua March, Founder and CEO of Conversocial. “The in-the-moment, mobile nature of social media makes it especially important for the travel industry, which explains our rapidly growing customer base in airlines and hotels. But the shift in communication away from traditional channels and into mobile and social is transforming customer service for every major vertical.”

“The social media customer service industry is growing in size, and as the channel matures, corporations and the industry must find an appropriate partner to provide a solution to this development in customer communications” says Teddie Wardi, Vice President at Dawn Capital. “Conversocial is the ideal partner to help a brand respond to these developments and deliver a best-in-class service to its customers. With this increased investment, we can continue to grow and develop to top industry talent and retain our customers to move ahead into our next stage of growth and innovation.”

About Conversocial

Conversocial (http://www.conversocial.com/) is trusted by global brands in hospitality, utilities, airlines and consumer brands for social customer service solutions that improve productivity and operational efficiency by managing the flow of customer service inquiries and discussions on social media channels such as Facebook, Twitter, Google+, Instagram and YouTube.

Brands including Hyatt, Sprint, Barclaycard, ConEdison, Co-operative Bank, Travelex and Google use Conversocial’s enterprise-class platform for a single view of the social customer via:

  • Comprehensive APIs that seamlessly integrate into CRM and contact center technologies

  • Resolution management on social media

  • Intelligent prioritization, so the complexity of social conversations are presented to customer service teams in a logical manner

  • An intelligent social routing system that distributes conversations based on agent specialization, rules, and agent presence to deliver the quickest and most helpful answer to the customer

  • Relevant messages from public posts, private messages and other customers, threaded into a single conversation to provide full context at a glance

  • Analytics to provide accurate, actionable insights on customer trends over time

Conversocial is a Twitter Certified Partner and a Facebook Preferred Developer. For more information, visit www.conversocial.com

About Dawn Capital

Dawn is an early stage VC firm run by entrepreneurs and investing in startups across Europe. We support SaaS and Fintech companies that develop world leading technology to improve business value chains and productivity.  We firmly believe that Europe will continue to produce strong global competitors in the technology field.  Dawn typically invests in companies that are expanding internationally and are looking for operational support and capital.

Dawn Capital’s portfolio companies include Collibra, Gelato Group, iControl, Mimecast, Neo Technology, Showpad, iZettle and Wonga, with many others looking to join their rank.

About Octopus Ventures

Octopus is a venture capital investor who backs talented people with the potential to build big businesses. Our focus is on identifying entrepreneurs and fast growth companies that can scale explosively to create, transform or dominate an industry. The Ventures team has a proven track record of helping build exceptional global businesses, including Zoopla Property Group, Secret Escapes, SwiftKey and graze.com.

Octopus works in close partnership with entrepreneurs, adding real value to the portfolio beyond financial investment. The team’s work is supported by access to the Octopus Venture Partners, a network of approximately 100 outstanding business leaders and entrepreneurs who provide an invaluable wealth of expertise and resource for our portfolio companies.

Octopus Ventures is part of the Octopus group, one of the UK’s fastest growing investment management companies with more than £5 billion of funds under management.

http://www.octopusventures.com

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